Media

Father of Carbon Trading Dr Richard Sandor
to deliver a Public Lecture at HKU

20 Feb 2017

 

China has opened seven pilot carbon trading markets since 2013.  A national wide carbon trading market will be opened in 2017.  Dr Richard Sandor, named ‘Father of Carbon Trading’ and ‘Environmental Hero’ by Time Magazine, will give a public lecture entitled ‘Financial Innovation: The Convergence of Environmental and Financial Markets’ at the Yuet Ming Auditorium, the University of Hong Kong (HKU), which may shed light on the development of China’s national market.  In the public lecture, Dr. Sandor will share his experience in creating carbon trading markets in the US and Europe with about 400 audience members. 

Dr Sandor has been an Advisory Board member of the Ronald Coase Centre for Property Rights Research and will be an Honorary Professor in the HKU Department of Real Estate and Construction.  The idea of carbon trading was inspired by the Coase Theorem, an economic theory well known by political and economic communities, and a contribution of the late 1991 Nobel laureate in economics Ronald Coase, who was a friend and mentor of Dr Sandor.  His idea was the inspiration for the development of a carbon trading market with an annual turnover of more than HK$1 trillion.  To pay tribute to Ronald Coase, Dr Sandor has contributed an endowment of UD$10 million to the University of Chicago Law School and set up the Coase-Sandor Institute of Law and Economics at the University of Chicago.

Carbon trading is not only a financial innovation but also a market-based solution to climate change.  According to Sandor et al. (2015), the carbon trading market in the US has reduced 67% of sulfur dioxide (SO₂) emissions.  It is estimated that around 20,000 to 50,000 lives were saved.  The total net economic benefit brought about by the market was around US$167 to 427 billion.

Dr Richard Sandor is the Chairman and CEO of Environmental Financial Products.  He was also named ‘Father of the Financial Future’ by the City of Chicago.  He was awarded the title of Chevalier de la Légion d´Honneur (Knight of the French Legion of Honour) and an honorary degree of Doctor of Science from the Swiss Federal Institute of Technology. 

Members of the media are cordially invited to the public lecture to be held at HKU on February 22, 2017 (this Wednesday). 

Details are as the follows:
3:30 p.m. Registration
4:25 p.m. Welcome note, Professor Chris Webster, Dean of Architecture, HKU
4:30 p.m. Welcome note, Professor Chau Kwong-wing, Director of Ronald Coase Centre for Property Rights Research and Head of the Department of Real Estate and Construction, HKU
4:35 p.m. Welcome note, Ms Christine Loh Kung-wai, Under Secretary for the Environment, HKSAR Government
4:40 p.m. Public lecture and Q&A, Dr Richard Sandor
5:50 p.m. Tea reception
Venue: Yuet Ming Auditorium, 5/F Chong Yuet Ming Amenities Centre, HKU Main Campus.

Note: Media interested in interviewing Dr Sandor can contact Ms Moly Lau of Faculty of Architecture for an appointment between 3:30 p.m. and 4:20 p.m. on the event day (just before the lecture).

Please click here for Lecture Registration: https://hkuems1.hku.hk/hkuems/ec_regform.aspx?guest=Y&ueid=48130 (Places are limited and are allocated on a first come first served basis).

General and Media enquiries:
Moly Lau, Department of Real Estate and Construction, Faculty of Architecture, HKU (Tel: 2219 4521 / 6078 9872; Email: molylau@hku.hk)
Ms Rhea Leung, Communications and Public Affairs Office (Tel: 2857 8555/ 9022 7446; email: rhea.leung@hku.hk)